Because I get so irritated with the call centers for banks my husband has graciously stepped up to field those calls. I'm the only one on the loan so we have to play the game of giving them all the information over and over to make sure of what exactly? That we are protected? How many times do I have to state the loan number, address, mailing address, telephone number and the last four digits of my social security number? Get this, even when they are the ones calling me, they go through the same format squeezing as much information out of me as humanly possible.
The lender I'm referring to is AHMSI; American Home Mortgage Servicing Inc. Mostly they are a loan servicer as opposed to being an investor. So basically all they are interested in is my monthly payment. Or one would think.. For the past 3 months I have had my payment RETURNED to me! They are claiming that I am in foreclosure and until I pay $12,000 they are refusing to take my payment. Keep in mind that I have never received anything in the mail from them with regards to this supposed foreclosure. It is their legal responsibility to follow the rules that the government has laid down for them. How does one maneuver in a system that is so broken.?
Of course the call center is based in India and all they ever do is read the script they've been given. How could they possibly even assist? I have nothing negative to say about India but the way we have outsourced our jobs to other countries for money is really unfortunate. They have completely different land laws in India than we do. The point is, they really aren't there to assist, they are there to make telephone calls and collect payments.
We just spent another 45 minutes on the phone first talking to H5S in India (that's really the NAME he gave us) and once we cleared his security we were FINALLY passed onto someone in the United States of America. At this point it doesn't even matter who we talk to as we are given the same story by everyone. They will NOT take our payments until we satisfy the $12,000 deficit. WOW! I am still going through the motions of making monthly payments but I'm not sure what to do next except file a law suit to stop the insanity.
I don't want to lose this house. I've owned it since 1998 and it has been a transformational house for me in so many ways. Zillow tells me that the house is worth somewhere in the vicinity of $247,000. The outstanding balance is $314,000, that's a difference of nearly $70,000! Am I crazy to want to keep the house? Should I just let it go? At what point do you just make the decision to cut your losses and walk away? It is currently a rental and the rents are bringing in a couple hundred dollars more than the payment each month. My plan is to move back into this house within the next couple of years. Currently a family of 4 is living in it. Interestingly enough the woman who is leasing it lost her home to a foreclosure a few years back after an ugly divorce.
The reality of homelessness in America is of epic proportions. In 2007 a study was done by the National Law Center on Homelessness and Poverty and found that roughly 3.5 million people were homeless. Of that number 1.35 million are CHILDREN! It is such a growing problem that in certain areas in the country school buses are picking kids up at hotels and homeless centers. These children are suffering greatly of which no part is their fault. My heart is saddened by such stories out there. This is a problem that cannot be ignored. But what exactly do we do?
I've been sitting financially precarious for 3 years now, depleting my life savings and robbing Peter to pay Paul. It's an ugly situation and one that at times brings me many times to my knees. And yet, I am one of the lucky ones. I still have a roof over my head and food on the table. I spoke this morning to 2 men who are in the real estate and lending world and both of them commented on how slow their business is. My instant reaction is to help out. But what am I to do? I so hate seeing people struggle financially as I have been on that ride more than once in my life. It really breaks life down to the very basics. Living in the moment. Doing the best you can with what you have. Being kind to strangers. Seeking to understand rather than be understood.
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